S&P ranks Thai firm third in global sustainability
Thailand’s C.P. Group achieved third place among the world’s industrial conglomerates in the S&P Global Sustainability Index 2021 signaling the growing commitment of the Kingdom’s major companies to responsible business and protecting the planet.
“The Group is entering a new century and we are adapting our businesses to match changing socio-economic contexts,” said Suphachai Chearavanont, CEO of C.P. Group. “It is an opportunity and challenge of every business group that needs to collectively drive sustainability to cover all aspects of economic, social, and environmental development.”
Dow Jones reviewed and ranked 44 industrial conglomerates for the index. It based its rankings on performance in several areas including business ethics, innovation management, climate strategy, social and environmental reporting, and human resource development.
The emergence of C.P. Group as a model of sustainability is an impressive turnaround for a largely family-owned corporation that for decades maintained its previous style of management and approach to business.
C.P. stands for Charoen Pokphand, which was founded as a seed shop in Bangkok’s Chinatown a century ago. Under Suphachai’s father, Dhanin, the company rapidly expanded into contract chicken farming. It eventually became the largest privately owned corporation in Thailand and expanded throughout Southeast Asia.
C.P. has broadened its portfolio to include telecommunications, real estate development, malls, hotels, fast food and retail.
Photo courtesy of: https://www.cpgroupglobal.com/News/nDetail/articleid/22